macroafricaintel Daily Brief | 10 Dec

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares ease slightly as tariff deadline looms
  • MSCI Asia ex-Japan -0.04%; Nikkei down 0.23%
  • China says it wants to make a trade deal as soon as possible
  • US official says Trump wants ‘movement’ from China to avoid tariffs
  • China producer prices fall, consumer prices spike in Nov.

Oil Markets

  • Oil prices slip again as spectre of trade war, demand concerns haunts market
  • Brent down 0.2% at $64.14 a barrel (0204GMT)
  • WTI down 0.1% at $58.95

Precious metals

  • Gold steady ahead of Fed meet, awaits clarity on fresh US tariffs
  • Spot gold down 0.1% at $1,461.05/oz. (0156GMT)
  • US gold futures flat at $1,465.40/oz.

Grains

  • Soybeans extend gains as Chinese purchases stir hopes of US-China deal
  • Wheat futures down 0.1% at $5.22-1/4 per bushel (0156GMT)
  • Corn futures up 0.1% at $3.76 per bushel
  • Soy futures up 0.2% at $8.99-1/4 per bushel
  • Rice futures up 0.1% at $12.47 per hundredweight

Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]

  • Nigeria’s Buhari & South Africa’s Ramaphosa head to Egypt for Aswan Summit (11-12 Dec)
  • Eskom press conference by leader of South Africa’s DA
  • South Africa manufacturing production Oct-19 [fcst. -5.8% yy, prev. -2.4%]
  • 9th African, Carribean & Pacific Group of States (ACP) summit in Nairobi, Kenya; 9-10 Dec
  • [Air] Routes Africa forum in Mombasa; 8-10 Dec
  • Ethiopia’s Abiy in Oslo to receive Nobel Peace Prize

Key African events or data releases yesterday & early a.m today

  • South African Airways is in ‘business rescue’. What does that mean?
  • Egypt, Ethiopia, Sudan to meet Jan 13 over dam dispute, US says
  • Libya’s NOC says Tatneft resumed exploring activities in Libya’s Ghadames basin
  • Erdogan: Turkey and Libya can conduct joint explorations in eastern Med
  • South Africa’s Ramaphosa vows ‘drastic’ steps to save state companies
  • Qatar Airways to take 60% stake in new $1.3 bln Rwandan international airport
  • Petra Diamonds halts South Africa mines after Eskom ups power cuts
  • Africa Oil – Rising freight rates weigh
  • South Africa’s rand weaker as power cuts weigh on sentiment
  • Charity sues Kenya over treatment of trafficked Indian, Nepali women
  • Jumia Technologies to suspend Jumia Foods delivery service in Rwanda
  • South Africa’s Eskom ups power cuts to 6,000 MW as Medupi plant fails
  • Algeria to cut oil output by 12,000 bpd under new OPEC deal
  • Rights groups urge release of Nigerian ex-presidential candidate
  • UN expert urges Ethiopia to stop internet shutdowns, revise hate speech law
  • Zambia’s Victoria Falls shrink to a trickle, feeding climate change fears
  • Egypt sells $1 bln in dollar-denominated t-bills – central bank
  • Kenya – Nairobi governor pleads innocent to graft charges, bail ruling Wednesday
  • As petrol prices rise, more Egyptians convert to dual-fuel vehicles
  • Uganda shilling unchanged after rate decision
  • Uganda central bank holds key lending rate at 9%, says GDP growth moderating
  • South Africa’s state-owned Prasa placed under administration – minister
  • Egypt considering 3 bond offerings during 2019-2020 FY – finmin
  • Kenyan shilling firms against the dollar
  • South Africa’s rand weak; focus on global cues ahead of US tariff deadline
  • Tullow Oil CEO steps down; scraps dividends on Ghana problems
  • Kenya police seal off court as Nairobi governor set to face draft charges

N.B. Full stories of above headlines are available on Reuters

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